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PenFed May 1st CD Rate Cuts - Rates Fall 25 bps

Wednesday, May 1, 2013 - 6:02 AMPentagon Federal Credit Union - Details
All of PenFed CD rates fell by 25 bps for the start of May. This comes after big rate cuts on April 1st so I was surprised by this. The new rates are starting to look like the rates from a megabank. Let’s hope we’ll see competitive rates return at PenFed later this year or early next year. Those 5% 10yr CDs that PenFed offered two years ago keep looking better and better.
  • 1.25% 7-year CD (was 1.50%)
  • 1.15% 5-year CD (was 1.40%)
  • 1.10% 4-year CD (was 1.35%)
  • 0.94% 3-year CD (was 1.20%)
  • 0.74% 2-year CD (was 0.99%)
  • 0.50% 1-year CD (was 0.75%)
 
8
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708
1. Wednesday, May 1, 2013 - 7:45 AM
Pretty pathetic compared to the longer term yields offered at Randolph Brooks Federal Credit Union (RBFCU). Which aren’t that phenomenal either.

5 Year 1.42%

6 Year 1.71%

7 Year 1.92%

PenFed probably realized they couldn’t make much money making auto loans at 0.74% and, at the same time, offering top-tier yields on their Money Market Certificates.

 

 
4
ShorebreakShorebreak2,694 posts since
Apr 6, 2010
Rep Points: 14,602
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